Supposed to be Solved in 35 Years, the Forgotten MIT Crypto Puzzle Was Finally Cracked

Supposed to be Solved in 35 Years, the Forgotten MIT Crypto Puzzle Was Finally Cracked

A time capsule protected by a cryptographic puzzle, designed by Ron Rivest in 1999, was supposed to take nearly 35 years to be cracked.

However, WIRED reported April 29, 2019, that nearly only 20 years later, on April 15, 2019, a self-taught Belgian programmer had solved the puzzle to open the time capsule.

Museum of Early Computer History

A celebrated architect, Frank Gehry, in April 1999, received a time capsule that contained the instructions to embed into the object then MIT’s Computer Science Lab. As reported, the time capsule was a museum of early computer history having 50 items contributed by Bill Gates, Tim Berners-Lee and others.

Ron Rivest, the designer of the time capsule, had mentioned that the puzzle wasn’t tricky. It’s just that it would take nearly 35 years to calculate the answer. However, almost 20 years later, on April 15, Bernard Fabrot, a self-taught Belgian programmer, solved the puzzle.

Inside the puzzle were instructions requesting that the solutions be sent to the director of the Laboratory for Computer Science, which, Fabrot told, no more existed. In 2003, the lab was absorbed by MIT’s Computer Science and Artificial Intelligence Lab (CSAIL), whose director Daniela Rus had never heard of the puzzle.

The solution to the cryptographic puzzle could be solved after running a squaring operation nearly 80 trillion times in a sequential manner. This meant it could not be done faster by deploying parallel operations or a supercomputer.

Then a mathematical operation was to be run that used the final number and a number mentioned in the instructions of the puzzle. This numerical solution would provide another number that could be translated into a congratulation message, which is to be revealed by Rivest and Fabrot on May 15.

Fabrot told that he stumbled on the puzzle in 2015 and had his computer running at all hours for almost three and a half years. The only occasions that he paused were during vacations or in the event of a power cut.

The Cryptophage project

Fabrot was unaware that he’d solved the puzzle before a team of computer scientists and cryptography experts, Cryptophage, by a margin of 25 days.

The Cryptophage team, led by Intel engineer Simon Peffers, was researching verifiable delay functions as a security mechanism for blockchains. The group considered Rivest’s puzzle to be an excellent way to test their research.

Beginning in early March, they calculated that per their chip’s computing efficiency, they’d have the correct answer by May 10. When the team reached out to MIT, Rivest informed them that Bernard Fabrot had started the calculation almost 42 months back and had already crossed the winning line.

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Swiss Luxury Hotel Accepts Bitcoin Showing Increase in Adoption, CEO Explains Motive

Guests at one of Switzerland’s top five-star hotels will be able to pay for services in bitcoin starting today.

The Dolder Grand announced April 2 – the day on which bitcoin price inflated by 23 percent – that it would begin accepting the cryptocurrency for room reservations, spa treatments, and even for a cup of coffee. Mark Jacob, the hotel’s managing director, told CNN Money that they were testing bitcoin for its widely-publicized potential in the payment industry, adding that they didn’t truly grasp the possibility of its success down the road.

“Whether exactly this [bitcoin payment] solution will be a permanent and sustainable solution, we don’t know,” stated Jacob. “When you are the first mover or part of the first ones that move, there is always a risk that the solution will not gain traction. But I think it would be a failure if you don’t give it a try.”

To Bitcoin or Not To Bitcoin

The comments followed cases in which retailers dropped bitcoin as a payment option after the service failed to gain traction. According to the blockchain firm Chainalysis, bitcoin’s use in commercial payments dropped as much as 80 percent in 2018. Some major companies, which earlier accepted bitcoins, discontinued that option citing price volatility and regulatory issues. Gaming company Steam, for instance, removed the cryptocurrency option after one year of adoption citing high transaction fees. Travel management portal Expedia and payment processor Stripe also followed cue.

But in Switzerland, businesses are still interested in foraying into bitcoin. Jacob thinks the positive sentiment comes from the opulent crypto-based surroundings, which ensures retailers get adequate regulatory and peer support when accepting bitcoins.

“It’s a fascination for the crypto valley in Zug and also the Zurich crypto community and the environment that is there and to support them also. I think Switzerland has always been a very innovative country. We, as a hotel, also benefit from that very directly in terms it drives businesses to Switzerland.”

But that does not bar skeptics from increasing its attacks on bitcoin. Oliver Herren at the Digitec Galaxus Group, Switzerland’s largest online retail stores, is one of such hardcore critics. The portal’s chief innovation officer said bitcoin’s on-chain transactions were far more expensive than a traditional payment service. He also targeted bitcoin for its lack of scalability – the ability to process transactions as faster as Visa or MasterCard.

“None of the blockchains scale enough. But maybe I have not invested enough time and therefore understand too little how the blockchain ecosystem works,” Herren said.

Digitec Galaxus Group, like the Dolder Grand, started accepting bitcoins this March on trial basis.

What’s Next?

Bitcoin’s depressive performance as an asset in 2018 pushed adoption lower. However, the cryptocurrency is posting a strong bullish case this year, which could mean that more organizations would want to adopt it. According to Lucas Betschart, the president of the Bitcoin Association Switzerland, the merchant adoption is set to go higher. He stated:

“I expect more Swiss companies to accept bitcoin over the next two years to attract tourists who save money by paying bitcoin.”

微软Outlook数据泄露 加密货币用户成黑客目标

本月早些时候,科技媒体Motherboard发现,黑客不仅可以访问Outlook用户的电子邮件元数据,还可以获取邮件内容。

造成这类攻击的关键在于黑客获取了微软客户客服人员的登录凭证;通过这种方式,黑客可以潜入任何非企业类的Outlook、Hotmail或MSN帐户的内容。

如今,多名受害者表示,他们认为黑客入侵这类邮箱账户的原因之一是:清空人们的加密货币账户。

微软用户Jevon Ritmeester透露:

黑客访问了我的收件箱,他们重置了我的Kraken.com账户密码,并取走了我的比特币。

Ritmeester亮出了来自微软的邮箱被盗提醒以及相关截图——黑客对其邮件进行了转发设置,所有提到“Kraken”一词的邮件都会被自动转发到黑客控制的Gmail地址中。

这些被转发出去的邮件包含了密码重置和比特币提取的请求。

Ritmeester近期在科技论坛上发表的一篇帖子中写道,他是在查看了自己邮箱里的垃圾邮件后,才发现有人同时提出了这两项请求。在这篇帖子中,他补充说,他损失的比特币超过了1 BTC,当前比特币的价格在5200美元左右。

似乎Ritmeester并不是唯一一个被盗币的微软用户。

Reddit用户shinratechlabs也说过,“这直接导致我的账号被黑。”他说自己损失了“25,000 in crypto”,但不清楚是丢了2.5万个币还是损失了2.5万法币。

另一个Reddit用户mickey_ficke表示自己也遇到了这样的情况,不过并未损失大量资金。

Ritmeester说:

我觉得微软试图隐瞒,并且根本没有认真对待这件事。

Ritmeester在帖子中提到,他没有在Kraken上启用双因素身份认证(F2A),这种认证方式可以在一定程度上组织黑客入侵加密货币账户。如果启用F2A,黑客可能还必须控制用户的电话号码才能盗取加密货币。

微软发言人在周一发出的一封邮件中表示,“如果客户认为他们受到的影响超出了微软在通知中提到的内容,应该联系微软客服团队寻求帮助。”

最初,当TechCrunch和其他媒体报道Outlook数据泄露时,微软表示,只有电子邮件元数据和客户信息受到了影响,比如主题和收件人以及发件人的邮件地址名称。在记者告知微软电子邮件内容也受到影响并提交了相关的证据后,微软修改了声明,但实际上他们早就已经意识到邮件内容也被公开了;该公司已经就此向受害者发出了邮件通知。

Ritmeester说:

我认为微软这样说是为了降低这次泄露的影响,我认为有很多用户遭受了这样或那样的损失,因为收件箱中有很多敏感信息。

我计划向警方报案,并考虑让微软承担经济损失,鉴于我许多个人信息可能在不久的将来会被泄露。

这类事件再次为加密货币用户敲响了警钟,数字资产的存储应该尽量选择非托管类钱包或者冷存储方案,自己控制私钥才是最安全的。而当在需要使用交易所时,应开启双因素认证的较为完善的安全措施,从而避免让黑客有机可乘。

“钢铁侠”的加密行动:刚称赞完狗狗币,又为ETH“喊单”

美国时间 4 月 29 日,特斯拉 CEO 埃隆.马斯克(Elon Musk)发布了一条只有一个单词的推特:Ethereum(以太坊)。

这并非马斯克首次提及以太坊,早在2018年7月,马斯克曾抱怨以太坊机器人账号泛滥。

今年4月,马斯克对“狗狗币”(Dogecoin)大加赞叹:“太酷了,狗狗币也许是我最喜欢的加密货币。”并把账号简介从改称“狗狗币前 CEO”。

有人评论马斯克此举是替以太坊喊单,但马斯克究竟意欲何为呢?

马斯克喊单

马斯克又在推特上“喊单”了。他发出了一个单词:Ethereum(以太坊)。区块链媒体CCN称,马斯克发推后不久,ETH 价格扭转跌势,回升上涨。

此时距离上次马斯克喊单狗狗币还不到1个月时间。

4 月 3 日,马斯克对“狗狗币”(Dogecoin)大加赞叹:“太酷了,狗狗币也许是我最喜欢的加密货币。”并把账号简介从改称“狗狗币前 CEO”。同时,狗狗币价格从0.019元,瞬间上涨到0.025元,涨幅愈31%。

喊单本是一种外汇术语,但在区块链的世界,喊单意思变得简单直接,大意可以理解为有影响力的人在社交平台上发布对某个加密货币利好的消息或观点,以提升币价。

但与众人理解的喊单不同,马斯克更改账号的举动似乎与此前狗狗币在推特上发起的一项投票相关。该投票是关于给狗狗币选出一个 CEO,最后马斯克以49%得票率超过Metal钱包CEO马歇尔、以太坊创始人V神等人当选,有人告诉马斯克:“你不能拒绝”。

而被认作是喊单以太坊后不久,马斯克在推文下面留言“jk”,似乎是joke(玩笑)的意思。

不管马斯克是否涉嫌喊单,不可否认的是,马斯克是区块链世界的焦点。截止目前,这条只有一个单词的推特已获得4600条留言、8700转发和10万点赞,是一众区块链“大佬”和KOL难以匹及的影响力。他在推特上受到2620多万人关注。

另一边,比特大陆联合创始人吴忌寒被称为区块链世界最有权势的人,他阔别数月回归推特,发布的第一条推文点赞量才刚刚突破2位数。

现实版钢铁侠

大多数人对马斯克的印象可能停留在2018 年 2 月 7 日,伴随 David Bowie 的《Space Oddity》,Space X公司的“重型猎鹰”火箭带着樱桃红特斯拉跑车 Roadster 缓缓滑入太空,马斯克被称作改写历史的男人。

而粉丝对马斯克的印象是,一边在地球普及清洁能源,一边又计划殖民火星,同时还在美国地下挖着管道。一位Reddit 用户将马斯克形容为“会和爱迪生、福特等伟大人物齐名,同时又是最接近真实版托尼—斯塔克的人物”。

在自传作家口里,马斯克是经济危机后美国创新与科技实力的新象征,被称为“下一个乔布斯”,是现实版的钢铁侠。

公开资料中的埃隆·马斯克,人称“钢铁侠”,Paypal公司前身X.com的创始人,31岁就手握1.65亿美元现金,如今SpaceX和Tesla的掌门人。

事实上,无论是在传统科技圈还是区块链世界,都很少见到像马斯克这样探索未知坚持自我的企业家,也没有其他人能与马斯克相比,深谙粉丝、大众和自我的心理,更懂得撩拨。

在好奇马斯克如同神明般的影响力时,越来越多人发现,正是马斯克的言语让平淡无奇的熊市激起一滩小水花。人们最大的不解来自于,马斯克在区块链世界究竟是什么样的存在?

我们无法从马斯克那里得到更多点评,但或许可以从另一个角度进入,那就是马斯克的过往经历和言论。

事实上,喊单对于马斯克来说并不是一个陌生的词汇,在喊单狗狗币和以太坊之前,马斯克更习惯在推特上对自己运营的上市公司特斯拉“喊单”。

天知道马斯克多爱推特。“有人喜欢用发型来表达自己,而我喜欢用推特。”他说。

 “我的推特都是我真实的想法,并不是那些精心写出的公司公关稿,那些都是陈腐的宣传手段。“马斯克在推特上说。

据华尔街日报统计,马斯克2016年至2017年平均每月发布94条推特,到了2018年年中,他每月发推数达到 400 条。从发推时间看,他无时不刻不盯着推特。

2000万美元的惩罚

美国时间2018年8月7日,马斯克在洛杉矶家中醒来,做了一会运动,开着特斯拉Model S前往机场的途中,他发布了一条消息,考虑以每股420美元的价格将公司私有化。

发布消息前,他没和董事会讨论甚至没和任何人讨论,每股420美元的价格都未经计算得出。

这正是在股票交易时段,特斯拉股价飙升,单日大涨7%,空头溃败,潜在损失一度高达8亿美金。

马斯克被指涉嫌操纵股价,SEC 立即启动了调查。

3个月后,美国SEC宣布马斯克因公开散布虚假和误导性言论,涉嫌证券欺诈,将不再担任特斯拉的董事长职位,并在三年内不准予担任董事长一职,并处马斯克和特斯拉各付2000万美元的罚款。

这不是马斯克第一次喊单,2018年愚人节当天,马斯克在推特上开玩笑说特斯拉破产了,刺激公司股价当日跌了7%。

特斯拉私有化风波之后,公司内部按照处罚条款设置了一个名为“信息公开委员会“的机构,简而言之就是马斯克的“推特管家”,负责在马斯克发布有可能影响公司股价的推文前,对其审核。

今年 2 月 19 日,马斯克发推称:“特斯拉 2011 年造了0台车,2019 年要造 50 万台左右”,对自己过往 8 年的成绩颇为自豪。但“50 万”这个数字,与特斯拉1月30日公布财报中发布的预期“最多40万台”并不吻合。SEC 随后对特斯拉多轮邮件质询后决定向法院提出指控,罪名是马斯克“藐视法庭”。

4月28日,马斯克和SEC就马斯克使用推特(发表关于特斯拉产量、销量和私有化信息)一事达成协议,协议特别约定,马斯克今后若要发表关于特斯拉的沟通信息,必须获得自己律师的预先批准。

这也就是说,马斯克此后要发布特斯拉有关信息,也得交给律师批准,在证券市场,马斯克的言论权受到显示,但在区块链的自由世界,马斯克喊单不受阻碍,甚至被鼓励。

除了可以通过发推享受到操纵价格的快感外,马斯克和加密世界还有什么关联呢?

只有0.25个比特币

马斯克对待加密货币的态度是暧昧的。

“除了朋友多年前送给我的0.25个比特币之外,我手里一个加密货币都没有。”马斯克去年初表示。

另一方面,他又在贴近加密货币。

去年 5 月,马斯克在推特上说:“那就发加密糖果吧。”讽刺巴菲特不懂虚拟货币只知道吃糖,然而这一切和虚拟货币并没有关系。

今年2月,马斯克接受 ARK Invest  博客采访时表示,密码货币在传送价值方面比纸币好太多,比特币的架构设计非常聪明,但另一方面,密码货币的创造过程过于消耗能源。

去年曾有一家叫做 Blokt 的外媒透露,美国内华达州一家区块链技术公司Blockchains LLC宣布与特斯拉CEO马斯克合作,共同在美国最大工业园Tahoe-Reno Industrial Center(TRIC)建一个试点性质的智慧城市项目,建立在以太坊上。

曾有外媒报道,SpaceX前实习生古普塔称马斯克就是比特币的创始人中本聪。

该实习生认为,比特币是由熟练掌握C++的人编写的,而这种语言是马斯克在SpaceX上大量使用的一种语言。马斯克于2013年发表的“超级高铁”论文显示,他对密码学和经济学都有着深刻的理解。

后来,马斯克亲自澄清“比特币创始人中本聪就是马斯克”的报道不实。

“你是中本聪吗?”在推特上,一位叫做 Ikir 的网友这样问马斯克,马斯克始终没有回复。网友随即自证:“他是的,因为他一直在挑战自己。”

参考阅读:硅星人《马斯克和他“一字千金”的推特》

Crypto Crime May Have Cost Sector $1.2 Billion in Q1, Says Report

Losses arising from cryptocurrency hacks and fraud may have reached as high as $1.2 billion in the first quarter of the year, new research from blockchain analytics firm CipherTrace suggests.

The total figure includes over $356 million lost from exchanges (including QuadrigaCX’s $195 million) and over $850 million alleged to have been lost from the Bitfinex exchange by the New York Attorney General’s office last week.

It’s worth noting, however, that Bitfinex has claimed the funds have been frozen by various authorities at a payments company and that it is working to retrieve them.

CipherTrace said Tuesday in its “Q1 2019 Cryptocurrency Anti-Money Laundering Report” that the estimated first quarter loss is almost 71 percent of the $1.7 billion loss seen over the whole of 2018.

“These thefts only represent the losses that are visible,” the startup said, adding that the real number of cryptocurrency losses was likely much higher.

Lack of clear regulations in the cryptocurrency sector is the main reason behind the rise in thefts, CipherTrace said, though more clarity is expected in the near future.

According to the report:

“A tsunami of tough new global anti-money laundering (AML) and counter-terror financing (CTF) regulations will roll over the crypto landscape in the coming year.”

CipherTrace further highlighted what it considers a major gap in the current regulatory environment with respect to cross-border crypto payments.

“An analysis of 164 million BTC transactions revealed that cross-border payments from U.S. exchanges to offshore exchanges increased from 45% from the twelve months ending Q1 2017 to 66% in the twelve months ending Q1 2019,” it said.

Finally, cyber criminals are said to have increasingly adopted new techniques such as kidnapping and insider misappropriations to steal cryptocurrency from individuals and companies in the first quarter.

Hacker image via Shutterstock 

Five Canadian Banks Employ SecureKey Blockchain System to Identify Users

Five Canadian banks will be employing a blockchain-based user identification system developed by tech startup SecureKey Technologies, Bloomberg reports on May 1.

Per the report, the Verified.Me digital identity system is now available to clients of the Royal Bank of Canada, Toronto-Dominion Bank, Bank of Nova Scotia, Canadian Imperial Bank of Commerce and Desjardins Group. The service will soon be available to users of the services provided by the Bank of Montreal and National Bank of Canada as well, while Sun Life Financial will reportedly be the first North American insurer to use the system.

Bloomberg quotes SecureKey CEO Greg Wolfond as stating that he expects the service to be used by consumers to prove their identity to access and open bank accounts, as well as government services, by the end of 2019. He also noted:

“They’re going to be able to share their data in a secure and trusted way, which they never really could before.”

The adoption of this new identification system is reportedly part of a shift towards open banking — letting consumers share their financial data with other companies — called for by the Canadian Bankers Association.

As Cointelegraph reported last month, mainstream media corporation Thomson Reuters was awarded a patent for a blockchain-based identity management system.

Also, at the beginning of April, it has been reported that, in an apparent first, global online payments firm PayPal has made an investment in a blockchain startup — one that focuses on leveraging the technology to give users more control over their digital identities.

Dutch Central Bank Will Keep Embracing DLT, But To-Date Findings Are Not All Positive

The Netherlands’ central bank will continue to experiment with blockchain, but its to-date findings are “not that positive,” according to the bank’s director of payments. Finance publication The Banker reported on the comments on May 1.

Petra Hielkema, director of payments and market infrastructures at the De Nederlandsche Bank (DNB), claimed that embracing new technologies such as blockchain and artificial intelligence (AI) will be a key direction in the DNB Payments Strategy 2018-2021.

Hielkema urged that central banks should keep developing and invest in new technologies in order to find out how to use them safely. While expressing confidence in the high potential of distributed ledger technology (DLT) applications in cross border payments, the DNB’s executive still stated that innovation is necessary.

Hielkema further outlined a number of problems exposed by DLT based on the bank’s blockchain-related experience over the past three years. As such, the Dutch central bank faced DLT imitations such as capacity shortages, inefficiency caused by high energy consumption and a lack of full certainty that a payment is completed, the article notes.

So far, the bank has reportedly developed and assessed four prototypes based on DLT.

Last year, Hielkema stated that cryptocurrencies are not real money, but the bank has no plans to ban them.

Earlier this year, Pete Hoekstra, the Netherlands’ Minister of Finance, received official advice suggesting the adoption of a licensing system for crypto-related services.

The Rise of Economic Development Zones:  A Way To Mitigate Crypto Taxation?

cryptocurrency economic development zones Bitcoin

The Rise of Economic Development Zones:  A Way To Mitigate Crypto Taxation?


Taxation frustrates many in the cryptocurrency community. Investor capital gains along with Coinbase’s well-documented jockeying with the IRS, taxes continue to be an ongoing concern.

There is some good news however on the U.S. tax front with respect to these cryptocurrency valuations gains.


Embedded in the highly debated $1.5 trillion dollar tax cut signed by President Trump into the law in late 2017 is an esoteric section addressing the tax treatment of real estate and other tax assets. Known as the Investing in Opportunity Act and Opportunity Zone Investment program, it offers savvy investors the opportunity to defer and eliminate future capital gains through Qualified Opportunity Zones and Qualified Opportunity Funds.

So what are Opportunity Zones? In short, they are land parcels in low-income, geographic census tracts that have been designated for investment opportunities and favorable capital gains treatment.

The Qualified Opportunity Funds provide an investment vehicle for these zones. To obtain the maximum tax benefit, investors must hold monies in an Opportunity Zone Fund or property for 10 years

The Cryptotization of Opportunity Zones

Longtime bitcoin advocate Charlie Shrem recently opined on Twitter about the possibilities tied to Bitcoin and Qualified Opportunity Zones.

 

 

San Francisco blockchain innovator Jomari Peterson is a strong advocate of this notion. He, in fact, is birthing a new project known as Gama Ventures, a blockchain centric Qualified Opportunity Zone fund seeking to invest in the growth and development of distressed communities.

The goal?  To facilitate revenue sharing and micro-equity investments opportunities fueling commercial development, housing, health/wellness initiatives, and free localized WiFi for targeted, economically distressed areas. Asked about the potential benefits to investors, Peterson rattled them off in rapid-fire succession.

Defer capital gains

Reduce capital gains

Eliminate capital gains in future gains

Attracting Cryptocurrency Holders and Investors

He believes that these Opportunity Zone investment opportunities hold particular appeal for high net-worth crypto holders who remain under the edicts of U.S. tax law.

Says Peterson:

The repatriation of crypto funds from overseas offers a unique investment strategy for those looking to mitigate their tax liability while developing and maintain their long term wealth. They can make a meaningful impact by putting their money to work in a productive way in communities of need.

Through the use of blockchain, Gama Ventures is erecting an ecosystem of smart contracts and automated systems to foster transparency, access, and flexibility for its stakeholders. The goal, says Peterson,

is to coalesce a community of partners around an operational model that fosters multi-stakeholder participation in opportunity fund management.

Policymakers, too, are hopeful that these zones will create a much-needed flow of investment monies toward low-income communities throughout the nation, including in the unincorporated U.S. territory of Puerto Rico where large swaths of opportunity zones currently exist.

Peterson says that his extensive work in aligning economic development and cryptocurrency for the benefit of marginalized communities and populations gives him an uncommon lens for extolling the benefits of Qualified Opportunity Zones.

I am a huge advocate of operating within the regulatory framework, particularly when it involves not only tax advantages to crypto investors, but significant benefits to low-income communities here in the U.S. I see this as a unique win-win scenario.

The content published on Bitcoinist is intended for educational purposes only and should not be taken as investment advice. We strongly advise our readers to “do your own research” before investing in any type of program or project, particularly those that guarantee profits.


Images via Shutterstock, Pixabay

Truffle Raises $3 Million to Expand Operations; Spins-off from ConsenSys

Truffle Raises $3 Million to Expand Operations; Spins-off from ConsenSys

In an exclusive reveal to Forbes, April 29, 2019, Truffle announced it is spinning off from ConsenSys and has raised money to expand into enterprise-grade solutions. Following the spin-off, Joseph Lubin will join as a board member.

Bringing Blockchain to the Corporate World

When the Truffle Suite first launched, it was meant to solve a pain point for Ethereum developers that spent a large portion of their time deploying on the Ethereum Virtual Machine (EVM). Truffle Suite, which has been a star on ConsenSys’ belt will now be spun off to provide enterprise-grade solutions for smart contract deployment.

With the pubic Ethereum blockchain already being leveraged by the likes of JP Morgan, whose permissioned blockchain is a fork of Ethereum, the Depository Trust & Clearing Corporation (DTCC) is also shifting to the Ethereum ledger.

DTCC is planning to move significant amounts of their data onto AxCore, a proprietary blockchain from Goldman Sachs, by utilizing their Ethereum-based blockchain along with JP Morgan backed Axoni. Truffle announced that it is integrating with AxCore to provide easy smart contract deployment and development capabilities. They are scheduled to start processing $10 million worth of transactions for the DTCC’s Trade Information Warehouse.

While this doesn’t mean these entities will be using the Ethereum cryptocurrency, it does mean large projects will now be more likely than ever to build on the Ethereum blockchain.

Enterprise Solutions and Smart Contracts

The potential for smart contracts in business dealings is widely known, with the only things missing for companies to adopt this method being functioning enterprise-grade services and regulatory certainty. While the former is still some time away, many projects are focusing their efforts toward providing solutions that target companies.

Truffle is a well-known integrator and can reduce smart contract deployment time without compromising the quality of the contract. As reported by BTCManager, developers on Ethereum were mass-adopting Truffle as a testing framework. This was because, amongst several other features, developers can rely on Truffle for network management in the implementation of smart contracts over public and private networks.

These functions make a world of difference in a corporate setting where actionable use case takes precedence over everything else. Further, with an industry stalwart like Joseph Lubin to guide the company on its expansion, there is no doubt that Truffle can become a successful enterprise-grade development tool.

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